Within minutes from the opening bell, the scrip of the company surged to some high of Rs 131. 10, a significant jump of 31% over its issue price about the BSE.
However, the company lost momentum thereafter as well as was trading at Rs 11. 40 at 1023 several hours. Over 76 lakh shares exchanged hands on the BSE inside the first hour of trade.
Brooks Laboratories had elevated Rs 63 crore from its initial public provide (IPO).
The company plans to utilise the IPO proceeds to setup a manufacturing unit in Gujarat, besides working funds requirement and general corporate purposes.
Brooks Laboratories, integrated in 2002, has a wide range of products catering to critical care segments within the parental section. Its plant is located within a good excise free zone at Baddi, Himachal Pradesh.